(b) Prohibition against commingling.
Funds paid to a State under this part must not be commingled with State funds.
The requirement in paragraph (b)(1) of this section is satisfied by the use of a separate accounting system that includes an audit trail of the expenditure of funds paid to a State under this part. Separate bank accounts are not required. (See 34 CFR 76.702 (Fiscal control and fund accounting procedures).)
Last modified on May 2, 2017